Heritage Investors Management Corp lowered its position in Altria Group (NYSE:MO) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,748 shares of the company’s stock after selling 3,363 shares during the quarter. Heritage Investors Management Corp’s holdings in Altria Group were worth $14,726,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Altria Group by 0.9% during the 1st quarter. State Street Corp now owns 74,624,722 shares of the company’s stock worth $5,329,771,000 after buying an additional 687,246 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Altria Group by 5.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 8,790,490 shares of the company’s stock worth $627,817,000 after acquiring an additional 476,393 shares during the period. Swiss National Bank increased its position in Altria Group by 25.1% during the first quarter. Swiss National Bank now owns 7,486,394 shares of the company’s stock worth $534,678,000 after acquiring an additional 1,501,400 shares during the period. UBS Asset Management Americas Inc. increased its position in Altria Group by 7.4% during the first quarter. UBS Asset Management Americas Inc. now owns 5,632,931 shares of the company’s stock worth $402,304,000 after acquiring an additional 387,069 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in Altria Group by 9.1% during the first quarter. Parametric Portfolio Associates LLC now owns 4,639,646 shares of the company’s stock worth $331,364,000 after acquiring an additional 388,541 shares during the period. Hedge funds and other institutional investors own 61.85% of the company’s stock.
In related news, CEO Martin J. Barrington sold 15,300 shares of Altria Group stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $65.03, for a total value of $994,959.00. Following the completion of the sale, the chief executive officer now owns 701,074 shares of the company’s stock, valued at approximately $45,590,842.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.
MO has been the topic of several recent analyst reports. Vetr lowered shares of Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 target price on the stock. in a report on Wednesday, September 6th. Berenberg Bank set a $72.00 price target on shares of Altria Group and gave the company a “hold” rating in a report on Sunday, August 6th. BidaskClub raised shares of Altria Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. UBS AG decreased their price target on shares of Altria Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, July 31st. Finally, Jefferies Group LLC set a $67.00 target price on shares of Altria Group and gave the stock a “hold” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $72.07.
Shares of Altria Group (NYSE:MO) traded up 1.63% during midday trading on Friday, hitting $62.50. The company’s stock had a trading volume of 4,035,593 shares. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79. The firm has a 50-day moving average of $63.95 and a 200 day moving average of $70.99. The firm has a market cap of $120.50 billion, a price-to-earnings ratio of 8.24 and a beta of 0.63.
Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Altria Group had a return on equity of 59.50% and a net margin of 56.98%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts predict that Altria Group will post $3.26 EPS for the current fiscal year.
Altria Group announced that its board has initiated a stock repurchase plan on Thursday, July 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 0.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 15th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Thursday, September 14th. This is a positive change from Altria Group’s previous quarterly dividend of $0.61. Altria Group’s payout ratio is presently 34.83%.
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Altria Group Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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